2024-07-31 23:55:08
China
Economy
Government

China's Vice-Premier Outlines Industrial Policy Roadmap

China's Vice-Premier has laid out a road map for the country's industrial policy, emphasizing the need for government planning, innovation, and an open ecosystem. The government aims to develop new productive forces and maintain its global position amidst fierce competition and US suppression.

The third plenum decision document highlights the importance of balancing government intervention and market forces, addressing market failures, and lifting restrictions. Justin Lin Yifu, an influential economist, supports industrial policy as a tool for economic development and believes China can avoid the path of Japan's economic stagnation.

The government is also taking steps to protect and support private enterprises, establish a unified national market, and implement fiscal and hukou reforms. Despite challenges such as technology containment from the US, China is focused on maintaining economic growth and promoting self-reliance.

Global Economy - South China Morning Post
30. Juli 2024 um 13:30

Chinese vice-premier lays out road map for industrial policy at ‘unprecedented’ time | South China Morning Post

Politics
Economy
Technology
China will develop new quality productive forces through government planning, market-driven innovation, and an open ecosystem, to maintain its position in fierce global competition and respond to US suppression. This systematic project must balance patience and urgency, consider regional conditions, and not blindly replace traditional industries.
China Economy - South China Morning Post
31. Juli 2024 um 12:30

Opinion | China must not repeat its mistakes in tackling overcapacity | South China Morning Post

Economy
Politics
China's recent 20th Central Committee of the Communist Party meeting was encouraging, as the communique noted plans to enhance the country's capacity for opening up its economy, foster new drivers of foreign trade, and develop new institutions to support an open global economy. As long as all parties are committed to mutually beneficial and respectful engagement, no trade dispute is unresolvable.
The Diplomat
31. Juli 2024 um 12:39

Crucial July Politburo Meeting Conveys Rare Sense of Urgency for China’s Leaders

Politics
Economy
Finance
The Politburo stressed the importance of enhancing macro policy coordination to foster a predictable and stable environment that can boost business confidence and investment, addressing persistent low market sentiment.
Global Economy - South China Morning Post
31. Juli 2024 um 22:30

Exclusive | Justin Lin Yifu on China’s third plenum, overcapacity and avoiding Japan’s fate | South China Morning Post

Economy
Politics
Technology
Finance
Justin Lin Yifu is a professor of economics at Peking University and former chief economist at the World Bank. His theory of “new structural economics” – which advises governments of developing countries to take an active role in building and optimising their industrial base – is widely believed to have influenced Beijing’s economic policies over the past decade, and he has predicted China will “surpass the US, as measured by market exchange rate, around 2030” and surmount the middle-income trap..
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